The WiseTech Global Ltd (ASX: WTC) share price hit a record high of $25.91 this morning after the software-as-a-service business told investors to expect EBITDA between $100 million to $105 million on revenue between $326 million to $339 million over FY19.
This is in line with guidance issued earlier in 2019 and, if delivered, would represent EBITDA and revenue growth between 47–53% and 28–35%, respectively, on FY18. Therefore, the rocketing share price looks sentiment-related as much as anything.
The numbers would represent a strong headline result for the business behind the CargoOne software platform, which has also pursued an aggressive acquisition strategy aimed at making it the dominant market leader in its space as software providers for the global cargo industry.
In March 2019, WiseTech raised $300 million from institutional investors by issuing shares at $20.50 each, so it now has the kind of balance-sheet firepower many US tech firms of a similar size possess to invest heavily for growth and complete acquisitions at will.
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